Thursday, Jul 23, 2009
To lend or not to lend, that is the question...
BBC News: Business still being crunched by banks
The chief executives of our biggest banks have been summoned to the headmaster's study on Monday morning.
Alistair Darling, Peter Mandelson, Shriti Vadera and Paul Myners will grill the bosses of Royal Bank of Scotland, Lloyds, Barclays, HSBC, Santander and Nationwide about whether they are lending enough to support an economic recovery - and, in the case of Royal Bank of Scotland and Lloyds, whether they are lending what they promised when kept alive by a massive injection of public funds.
Posted by hotfoot @ 11:46 AM (494 views) Add Comment
4 Comments
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1. yoyo1 said...
What's this? Yesteryears news? They were all 'summoned' regarding lending months and months ago at the same time when several banks went under! I can also remember when space missions were all about trips for monkeys!
2. mander said...
Lend to whom and do what with the money?
3. mark said...
they cant lend money they don't have even if idiot darling thinks they can...
4. uncle tom said...
Robert Peston's blog is pretty good on this one - I suspect he's had a good forward briefing from the banks.
The message to Darling an Mandy is fairly blunt -
"don't try to claim the moral high ground, and somehow pretend that we can push on a string. If you try to force lending to failing businesses, it will only be the state owned banks that play; and you will be damned for the losses that the taxpayer has to pick up. The public know that business, the consumer, and the state are all heavily over-borrowed; and they want to see less, not more debt.
This is not the way to win the next election, so don't try.."